Sale: CNG 69, Lot: 745. Estimate $500.  Closing Date: Wednesday, 8 June 2005.  Sold For $750. This amount does not include the buyer’s fee.

CARTHAGE, Libyan Revolt. Circa 241-238 BC. BI Shekel (7.79 gm, 12h). Carthage mint. Head of Herakles left wearing lion skin / Lion walking right; Punic "M" above. Carradice & La Niece 1 (same rev. die); MAA 53; SNG Copenhagen 241. EF, flan splits, toned. Nice for this crude emergency issue. ($500)

From the Garth R. Drewry Collection. Ex Wilkinson Collection (Malter 49, 15 November 1992), lot 1002; Hyman Collection.

At the end of the First Punic War in 241 BC, Carthage found herself confronted with a dilemma. Large numbers of Greek, Italian, and African mercenaries had been hired to pursue the war with Rome, and now Carthage, defeated and bankrupt, had no money for the pay owed to them. Rebellion broke out in Sardinia and Africa. The latter situation became critical when one of the leaders, Matho, a native Libyan, inspired the native population to join the mercenaries against their Punic Carthaginian overlords. Military unrest became a nationalist war of liberation. Coins were struck in the name of Libya and "M", which has been taken as either "machanat" - the Camp (of the mercenaries), or perhaps Matho, their leader. The first issues were apparently overstruck on Carthaginian silver shekels, but later issues are found on newly prepared flans, although the fineness of the silver seems to vary greatly. Hamilcar Barca, the great Carthaginian general, finally suppressed the revolt in 238 BC.